Global real estate company Thor Equities Group and Danish pension fund PFA, have partnered in the $85 million acquisition of a premier cold storage warehouse in Santa Fe Springs, CA. The asset, located on Pike Street in the Los Angeles submarket, is fully leased to the world’s largest brewing company, Anheuser-Busch.
The property consists of 2 buildings totaling 159,000 square feet, and features 16 exterior docks, 25-foot clear heights, a 110-foot truck court and excess land for trailer parking. It is in proximity to Interstates 5 and 605, and is 24 miles from the Port of Los Angeles.
“This acquisition offers a rare opportunity to invest in one of the most desirable asset classes and industrial markets in Southern California. Given its location near the largest U.S. port and the area’s large population, the location is ideal for cold storage, and we expect the demand for this asset to grow,” said Joseph Sitt, Chairman of Thor Equities Group.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.